Multi-Family Development Site

Vacant Land for Sale
Sale Pending/Contingent
Catylist Listing ID: 30000211
Property Subtypes: Multi-Family
Status: Pending/Contingent
Gross Land Area: 3.97 Acres
Sale Price: $850,000
Unit Price: $214,105 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/1/2018

Overview / Comments

Ideal site for Affordable or Market Rate Apartments. Site is entitled for 92 residential units according to Deltona Master Plan and is short distance to Spring Hill Drive and the Kass Circle Redevelopment Area. Building height is limited to 45 feet, or 3 stories. Site is currently wooded, and it is located along a large retention pond. Selling four contiguous vacant lots totaling 3.97 acres, all facing Omaha Circle.

Additional Details

Nearest MSA: Tampa-St. Petersburg-Clearwater
County: Hernando
Taxing Authority: Hernando County
Tax ID/APN: Parcel #: R32 323 17 5030 0159 0190
Property Located Between: Spring Hill Drive and Omaha Circle
Property Visibility: Good
Legal Description: SPRING HILL UNIT 3 BLK 159 LOTS 19 THRU 22, RESL 2008-159 ORB 2582 PG 964
Largest Nearby Street: SPRING HILL DRIVE
Feet of Frontage: 800
Site Description: 3.97 Acres and has an irregular shape. To south of site is large retention area that is within flood zone; however, the subject is within flood zone x. and area of low flood risk where flood insurance is not required. The site is accessible from Omaha Circle via Spring Hill Drive. Omaha Circle is a two-lane neighborhood roadway.
Area Description: Major roads serving the subject are Suncoast Parkway/SR 589 a major north-south toll roadway, U.S. Highway 19 (Commercial Way) a six-lane thoroughfare (with turn lanes) running through Hernando County, Spring Hill Drive (CR 574) a four-lane east/west roadway, and Cortez Boulevard/SR 50 a four-land roadway that runs east-west through most of Hernando County.
Lot Frontage: 800 mol
Lot Depth: 200 feet mol
Zoning Description: Vacant Residential
Topography: Level
Easements: Utilities
Easements Description: 6 foot Drainage and Utility Easement
Available Utilities: Electric, Water, Sewer
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,297 49,709 103,244
Median Age: 47.6 49.94 47.89
Households: 4,895 21,960 43,266


Photograph of Listing Agent

Russell Versaggi

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